Trust Point Inc. Cuts Holdings in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS)

Trust Point Inc. decreased its position in CCC Intelligent Solutions Holdings Inc. (NYSE:CCCS) by 25.2% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 69,582 shares of the company’s stock after selling 23,433 shares during the period. Trust Point Inc.’s holdings in CCC Intelligent Solutions were worth $816,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently modified their holdings of CCCS. Eagle Bay Advisors LLC bought a new position in shares of CCC Intelligent Solutions in the fourth quarter valued at approximately $25,000. UMB Bank n.a. purchased a new stake in shares of CCC Intelligent Solutions during the 4th quarter valued at $28,000. Advisors Asset Management Inc. raised its stake in shares of CCC Intelligent Solutions by 153.0% during the 3rd quarter. Advisors Asset Management Inc. now owns 2,859 shares of the company’s stock worth $32,000 after purchasing an additional 1,729 shares during the period. GAMMA Investing LLC boosted its holdings in shares of CCC Intelligent Solutions by 286.9% in the 4th quarter. GAMMA Investing LLC now owns 3,343 shares of the company’s stock worth $39,000 after buying an additional 2,479 shares during the last quarter. Finally, Financial Management Professionals Inc. bought a new position in CCC Intelligent Solutions during the fourth quarter valued at about $54,000. Institutional investors own 95.79% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on CCCS shares. Barclays lowered their price target on shares of CCC Intelligent Solutions from $14.00 to $13.00 and set an “equal weight” rating on the stock in a report on Tuesday, October 29th. Barrington Research reiterated an “outperform” rating and set a $14.00 price target on shares of CCC Intelligent Solutions in a research note on Tuesday, October 29th. Morgan Stanley upgraded CCC Intelligent Solutions from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $14.00 to $15.00 in a research note on Wednesday, November 13th. Piper Sandler reiterated a “neutral” rating and set a $13.00 target price on shares of CCC Intelligent Solutions in a research report on Wednesday, December 11th. Finally, JPMorgan Chase & Co. boosted their price target on shares of CCC Intelligent Solutions from $13.00 to $14.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Two analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, CCC Intelligent Solutions has an average rating of “Moderate Buy” and a consensus target price of $13.89.

CCC Intelligent Solutions Stock Up 0.2 %

CCCS opened at $10.96 on Wednesday. The firm has a market capitalization of $7.19 billion, a P/E ratio of 548.27 and a beta of 0.71. CCC Intelligent Solutions Holdings Inc. has a one year low of $9.79 and a one year high of $12.88. The company has a fifty day moving average price of $11.75 and a 200-day moving average price of $11.22. The company has a debt-to-equity ratio of 0.39, a current ratio of 3.19 and a quick ratio of 3.19.

CCC Intelligent Solutions announced that its board has authorized a share buyback program on Friday, December 20th that permits the company to repurchase $300.00 million in shares. This repurchase authorization permits the company to buy up to 4% of its stock through open market purchases. Stock repurchase programs are generally a sign that the company’s board of directors believes its stock is undervalued.

Insider Buying and Selling

In other news, CAO Rodney Christo sold 9,916 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $12.67, for a total value of $125,635.72. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Githesh Ramamurthy sold 9,348 shares of CCC Intelligent Solutions stock in a transaction on Thursday, November 7th. The stock was sold at an average price of $11.50, for a total transaction of $107,502.00. Following the sale, the insider now directly owns 4,798,040 shares of the company’s stock, valued at $55,177,460. This represents a 0.19 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 443,153 shares of company stock worth $5,390,863 over the last ninety days. 6.67% of the stock is owned by corporate insiders.

CCC Intelligent Solutions Profile

CCC Intelligent Solutions Holdings Inc, operates as a software as a service company for the property and casualty insurance economy in the United States and China. The company's cloud-based software as a service platform connects trading partners, facilitates commerce, and supports mission-critical, artificial intelligence enabled digital workflow across the insurance economy, including insurers, repairers, automakers, parts suppliers, lenders and more.